Potential GDP is
A) equal to the maximum amount of goods and services that can be produced at any given time.
B) another name for real GDP.
C) the level of output produced when the economy is fully employed.
D) a measure of the short term fluctuations in real GDP.
E) another name for nominal GDP.
Correct Answer:
Verified
Q6: The Lucas Wedge is estimated to
A)total over
Q7: Suppose Germany's economy is experiencing full employment.This
Q8: According the Keynesian macroeconomic model,which of the
Q9: Which of the following ideas reflect the
Q10: The Keynesian macroeconomic model states that
A)the economy
Q12: Potential GDP
A)is the same as real GDP.
B)is
Q13: The level of real GDP the economy
Q14: Suppose that Australia has fully employed all
Q15: Potential GDP is the level of
A)real GDP
Q16: At full employment,actual _ equals _.
A)nominal GDP;potential
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